UPDATE: Baird Downgrades Terminix Global Holdings, Inc. (TMX) to Neutral

Baird analyst Andrew Wittmann downgraded Terminix Global Holdings, Inc. (NYSE: TMX) from Outperform to Neutral with a price target of $44.00 (from $57.00).

The analyst comments "Our prior thesis hinged on TMX's ability to improve growth and margins through customer service enhancements. Ultimately, success comes down to consistent, high-quality field execution. Fundamentally, we believe today's labor constraints will continue to pressure employee churn, hurting service consistency/productivity, and ultimately make TMX's turnaround efforts materially more difficult. With last quarter's results showing early signs to this effect (labor costs and termite claims were up), and with the labor market conditions appearing less transitory, we believe shares may struggle to find a catalyst for outperformance."

For an analyst ratings summary and ratings history on Terminix Global Holdings, Inc. click here. For more ratings news on Terminix Global Holdings, Inc. click here.

Shares of Terminix Global Holdings, Inc. closed at $39.89 yesterday.

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